December 2, 2015
As the Bay Area recovered from the Great Recession, household incomes increased but so did poverty rates and the cost of housing, according to new data released Wednesday by the U.S. Census Bureau.
“Poverty is caused by the cost of living — and specifically the cost of housing — in our state,” said Micah Weinberg, president of the Bay Area Council Economic Institute. “If we want to bring those poverty rates down, we’ve got to get serious about building housing in the Bay Area. We’re a million units short of where we should be.”
Weinberg said the Bay Area and coastal California haven’t been building enough housing for four decades.